Asia-Pacific markets are expected to mostly rise, following the trend set by Wall Street. US stocks experienced a tech rally fueled by Nvidia on Tuesday.
Investors will be evaluating Australia’s July inflation numbers, which will influence the Reserve Bank of Australia’s upcoming monetary policy decision scheduled for September 5th. The headline inflation for July was 4.9%, lower than June’s 5.4%.
In the Australian market, the S&P/ASX 200 rose by 1.21%, reaching its highest level since August 15th at 7,297.7.
Japan’s Nikkei 225 marked its third consecutive day of gains with a 0.33% increase, closing at 32,333.46. Additionally, the Topix index also saw gains, rising by 0.43% to conclude at 2,313.38.
South Korea’s Kospi index advanced by 0.35%, closing at 2,561.22. The Kosdaq index also performed well, closing up 0.83% at 923.81, its highest point since August 1st.
On the other hand, Hong Kong’s Hang Seng index remained nearly unchanged, while mainland Chinese markets displayed mixed results. The benchmark CSI 300 blue chip index in mainland China ended with a slight decrease of 0.04% at 3,788.51.
In the US, all three major indexes saw gains. The Nasdaq Composite surged over 1%, with the tech-heavy index rising by 1.74%. The S&P 500 also performed strongly, increasing by 1.45%, marking its best day since June 2nd. The Dow Jones Industrial Average climbed by 0.85%.
